XRP price prediction: seeks support above $0.35

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TL;DR Breakdown

  • XRP price prediction expects XRP price to find support above $0.35 today
  • Bullish momentum returns after sharp correction yesterday
  • Ripple CEO Brad Garlinghouse responds on Twitter
  • Volatility shows some decline as XRP price increases
  • The range of the day expected to be $0.285 – $0.37

XRP price finally achieved it’s initial Altcoin seasonal pump yesterday, seeing a jump from $0.24 to $0.36 through the day. This pump is expected to be the first of several in the weeks to come.

Following weeks of radio silence, the CEO of Ripple, Brad Garlinghouse finally spoke out to answer questions posed by the Twitter community.

Despite the spree of XRP delisting throughout the US-based exchanges (Coinbase, Binance.US, etc.), Garlinghouse confirms that over 95 percent of XRP is traded outside of the US. This statement alone seems to have revitalized XRP price and granted hope to holders and traders of XRP.

Garlinghouse elaborated upon the difference between Ripple investors and XRP owners while also expressing disappointment in Tetragon, ‘unfairly’ advantaging itself through the SEC lawsuit.

Use the oscillator below to check what role XRP might play in your portfolio.

XRP price prediction: 1-Day chart overview

XRP price prediction: seeks support above $0.35 1

The 1-Day XRP price chart overview is starting to show us a solid bullish movement occurring. As volume turned away from its bearish control in December 2020, January 2021 clearly shows how the tides have turned.

Observing the Historical Volatility (HV) indicator, we can see that volatility remains high yet is steadily declining while prices increase – suggesting intention is bullish in the XRP market. On the other hand, the Relative Strength Index (RSI) indicator shows that XRP is just in the middle of its bullish move. Having yet to reach a state of becoming overbought, XRP price is expected to continue upwards.

XRP price prediction: 1-Week chart overview

XRP price prediction: seeks support above $0.35 2

Observing the 1-Week chart overview, it can be clearly seen that XRP price has seen an immediate recovery from the plummeting lows seen just two weeks ago in December 2020.

The HV indicator on the 1-Week chart instead shows a consistent incline as XRP price increases. This may likely be a delayed or exaggerated response to recent XRP price pumps seen this week.

In contrast, the RSI indicator suggests XRP price is still at a health medium and geared towards an upwards direction if given the pump and volume to do so.

XRP price prediction: volatility chart overview

XRP price prediction: seeks support above $0.35 3

Observing the overall XRP 1-Day volatility chart, it can be seen that the volatility spike highs have been clearly recovered from back down from almost 400 HV to 173 HV now.

This volatility overview depicts a decline in volatility as price increases – highly suggestive that bullish momentum should continue and be welcomed with open arms by XRP traders and holders alike.

XRP price prediction conclusion: set to find support above $0.26 today

XRP price prediction: seeks support above $0.35 4

This XRP price prediction concludes that support should be expected above the $0.35 level.

Observing the conclusion chart above, two clear points of healthy price correction can be seen amongst two points of price shakeouts that occur in-between. These two shakeouts are solely created by whales aimed at rapidly booking profits followed by the quick hoovering up of XRP supply at a much lower price. In this case, prices dropped to $0.29 before returning to $0.32 within 60 seconds.

Following this chart, if bullish momentum continues – and XRP’s characteristic of sideways movement perseveres – XRP price should break $0.35 and find support before the day concludes.

As always, trade safely, carefully, and only trade what you can afford to lose.

Joshua O'Sullivan

Joshua O'Sullivan

Joshua has been a professional writer, editor and proofreader for close to a decade. He has created books, resuscitated multiple patients and managed to survive multiple life threatening experiences. With these experiences, he is always willing to strive to the challenge of any opportunity presented.

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